LACK OF MARKETING = LACK OF GROWTH

Why do some businesses thrive and others stagnate at a modest threshold?

Dave Saunders, CEO of Madison + Main, a Richmond based Branding, Marketing and PR firm, arrived at the conclusion that marketing is not a priority for most companies. Saunders maintains that, “Most small businesses stay small because they’re thinking small. As they say 98% of all business is small business, and the reason most stay that way is because they don’t make marketing a top priority. Most companies make sales their top priority and don’t know the difference between sales and marketing. I’ve worked with a lot of companies over the past 25 years, and it finally hit me this week. Companies that make marketing a priority get bigger. Those that don’t, don’t.”

We agree with Dave. So, let’s talk a bit about marketing by small business leaders who choose to build, grow and prosper.

First a distinction between sales and marketing:

In simplest terms, marketing engenders awareness on the part of customers, key prospects and referral resources. It is very true that no one ever bought a product or service they were not aware of.

Sales are the exchange of a product or service for money. And you won’t get to this exchange in significant volume unless you make marketing a priority.

If a military metaphor suits you:

• Marketing is the artillery (let’s you know we are out there);
• Sales are the infantry (here to deliver on our promise).

Many small business owners throw up their hands in defeat at the thought of creating a marketing plan. Reason: “The cost will be prohibitive.” Not so! Consider some inexpensive (sometimes free) ways to create and maintain top-of-mind awareness with your customers (past and present), key prospects, referral resources and high-level suspects.

Branding

There are six branding elements to consider:

• Name – Ideally “what you do”
• Logo – Simpler the better
• Tag-line – Descriptor of what you deliver
• Fonts – Serif (traditional); Sans Serif (modern)
• Colors – To evoke feelings
• Consistency – same look & feel

Make sure all of the above are consistent, meaning the same look & feel wherever they appear, e.g. business cards, marketing collateral, website, etc.

Website

In this increasingly digital world, where do people look first for a product or service they are thinking about? Not the old-timey Yellow Page phone book. It’s on the internet. So, if you do not have a website, the message to buyers is you are not in business.

There are economical ways to create a website ranging from DIY – WordPress https://wordpress.com/create/ all the way to comparison shopping professional web designers. Quick tip: be sure to include a tab for “Blogs”. More on that later.

Business Cards

Be sure to have your business cards professionally printed. It doesn’t have to be expensive, just be sure to use quality stock, print on both sides and make all consistent with fonts, colors and logo.

Demonstrate Thought Leadership

There are a number of inexpensive/free ways to go about this. For example:

• Seek public speaking opportunities.
• Join social media groups , e.g. LinkedIn groups, and participate a few times a week.

Publish a Regularly Scheduled E-Newsletter

The key here is to deliver info perceived as valuable to your readership audience. Said another way, your e-newsletter should not be a sales solicitation. Rather it will be a reminder of value you bring to the relationship and demonstrate you are an industry expert and thought leader.

Articles that you write, or have written for you, provide you multiple opportunities for marketing exposure and awareness. Distribute in your e-newsletter; post to your website blog; send to your social media groups; and offer to print publications for reproduction.

Networking

Networking is basically nothing more than “getting out among ‘em”, meaning meeting people in a variety of professional, social and volunteer capacities. Clearly, the benefits of networking are relationship building and brand awareness for your product or service. Service groups, religious affiliations and not-for-profit entities are all appropriate assemblies to consider. Once again, the expense is either zero or at worst, typically affordable.

Challenge

Take a few minutes to review the six suggested marketing avenues described above. Then do a little research and put a pencil to each and estimate financial costs. Bet you’ll be pleasantly surprised!

Next, begin a plan to initiate each of the six and then commit to execute your plan on a definite timeline.

Note: There is no immediate payoff with marketing. It is a process, not an event. That means exercise patience and persistence and you’ll reap substantial, measurable benefits over time.